August 5, 2024/InvestmentOne Research

The NGXASI declined by 0.17% today to close at 97,582.41pts, as the sell pressure on MTNN (-5.95%), TRANSCORP (-1.79%) and STERLINGNG (-2.99%) propelled the local equities market into the red zone.

In the fixed income space, the Treasury Bills secondary market traded on a negative note today amid selloffs observed across short and mid tenor maturities. Consequently, Average T-Bills yield rose by 7bps to close at 25.55%. Similarly, the FGN Bond market was bearish as the Average FGN Bond yield increased by 10bps to close at 19.87%.

At the NAFEM window, the Naira strengthened by 0.61% to close at NGN1,607.15/USD. Crude oil price (Brent) decreased by 0.62% to USD76.33pb.

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